Can I use savings, mutual funds, stocks, etc. as “income” for establishing residency during my 12 month residency review period?
Savings, mutual funds, stocks, etc., may be used as income during a 12 month residency review period if the account(s) and funds are determined as eligible. If you have used savings, mutual funds, stocks, etc., that are in your name, you must also prove that you had these funds in your possession 12 months prior to the beginning of your residency review period. The residency review period is the 12 months preceding the quarter you wish to be reclassified as a resident. The student must demonstrate and provide documentation proving that they had control over the funds if any other persons name is listed on the account. Eligibility of the account(s) and final determination will be decided by the Registrar’s Office if another name is on the account other than the students. You will then be required to submit a minimum of three account statements: a copy of your account statement from one year prior to the start of your 12-month review period; a copy of your account statement from the begi
Savings, mutual funds, stocks, etc., may be used as income during a 12 month residency review period if the account(s) and funds are determined as eligible. If you have used savings, mutual funds, stocks, etc., that are in your name, you must also prove that you had these funds in your possession 12 months prior to the beginning of your residency review period. The residency review period is the 12 months proceeding the quarter you wish to be reclassified as a resident. The student must demonstrate and provide documentation proving that they had control over the funds if any other persons name is listed on the account. Eligibility of the account(s) and final determination will be decided by the Residency Officer if another name is on the account other than the student’s. You will then be required to submit a minimum of three account statements: a copy of your account statement from one year prior to the start of your 12-month review period; a copy of your account statement from the beg
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